The Ras Al Khaimah-based Vaayu Group will acquire a strategic stake in Pradhaan Air Express (6P, Delhi International). Vaayu's existing relationship with Pradhaan includes leasing them an A320-200(P2F). The entity says its investment, announced on the sidelines of the Dubai Airshow 2023, will help it become a bigger operator in the air cargo sector while also allowing Pradhaan greater business opportunities in the Middle East.
“Vaayu’s vision is to become a significant player in the air cargo space in the years to come," said Vaayu's Chairman and President, Emad AlMonayea. "This move with Pradhaan is quite strategic considering the opportunities it presents between the two regions."
Established in 2011, Vaayu has worldwide strategic aviation investments, including in leasing, storage, and MRO services. This week in Dubai, AlMonayea said he was expecting another two A320-200P2Fs next year, which will likely go straight to Pradhaan, given it also indicated that it intended to add two more aircraft to its fleet in 2024 and two aircraft every year after that.
The size of the strategic investment was not disclosed. ch-aviation has contacted both parties for further details.
One of three cargo-only airlines based in India, Pradhaan Air Express secured the requisite certification last year to operate its own aircraft. Its sole aircraft, VT-PNS (msn 2737), ferried to India in July 2022, and revenue flights began in October. Earlier this year, Pradhaan Chief Business Officer Vipul Bhalla suggested the airline would receive a further three aircraft throughout 2023, although none of those aircraft ever arrived. This week in Dubai, Pradhaan CEO Nipun Anand said the current aircraft was flying a mixture of domestic and international routes and performing well. He indicated there would be no further aircraft arrivals until 2024.
